The BVRLA has released a new report showing the size and influence of the rental and leasing sector.

Commissioned by the BVRLA from respected research organisation Oxford Economics, the study shows that the industry contributes around £25bn per year – equivalent to the combined local economies of Edinburgh and Leicester.

In terms of jobs, the industry employs 53,600 people directly and a further 263,400 people through wider supply chain and consumer spending effects. The total employment supported by the industry is equivalent to 1 in every 88 workers in the UK.

The report adds that vehicle rental and leasing companies are among the automotive industry’s largest customers, purchasing an estimated 308,000 UK-made vehicles in 2013. This is 20% of total output and means that rental and leasing companies purchased more than 80% of UK vehicles sold in the UK. This expenditure is estimated to have supported a £4.3 billion gross value added contribution to GDP, as well as nearly 90,000 jobs and £1.4 billion in tax receipts.

The rental and leasing industry is also playing a leading role in driving down emissions. At 119g/km, the CO2 emissions of the average newly registered lease car at the end of 2013 were 7% cleaner than the average newly registered car in the UK. Meanwhile, the average rental car on UK roads in 2013 emitted 132g/km – 17% lower than the average car on UK roads.